Darwinbox is first Saas-based company to turn unicorn this year

Darwinbox saw a huge uptick for its services as the pandemic forced employees to work from home

Software as a service (SaaS)-based HR Tech platform Darwinbox has raised $72 million funding in series D round. It was led by Technology Crossover Ventures (TCV) along with existing investors Salesforce Ventures, Sequoia India, Lightspeed India, Endiya Partners, 3One4Capital, JGDEV and SCB 10X.

The company’s valuation, post this round, will cross $1 billion, making it the first unicorn in the SaaS sector for 2022.

The total investment raised so far by the company is over $110 million. It has grown 200 per cent since the last fundraise from Salesforces Ventures, exactly a year ago.

The funds raised will be used for expansion into